Atacama Labs Oy, a Helsinki, Finland-based pharmaceutical company that develops, manufactures and commercializes pharmaceutical and biopharmaceutical products based on its proprietary drug delivery technologies, raised €2.3m in equity funding from both Finnish and International private investors.
Atacama Labs also announced that Mr. Steffen Mittwich has been appointed as new CEO. In his new role, Mr. Mittwich will focus on building up of the company and establishing partnerships with galenic development and contract manufacturing partners. In addition, his extensive experience of pharmaceutical industry will be helpful in establishing client cooperation and joint ventures.
Mr. Mittwich has worked in pharma industry since 1992 and has held several management positions within major European and international pharmaceutical companies, such as Sanofi-aventis, Aventis Pharma, and Pfizer. His latest position at Sanofi-aventis was Regional Business Director and CEO Winthrop Pharmaceuticals.
Commenting on the financing, Mr. Mittwich said: “This capital investment enables Atacama Labs to move from the R&D phase into the commercial phase, and to launch the revolutionary PDG Technology for the traditional drug manufacturing field”.
The company’s PDG Technology(TM) enables rapid development and processing of all drug substances. The technology replaces the traditional wet granulation technology, which is known as a complex process and has always challenges in production quality and operational control.